Yes, the real estate market has finally peaked. Since 2016, we have seen 30% increases in property values on average in most areas. That is truly unprecedented in such a relatively short period of time. Record low interest rates (still hovering around 3% for a 30-year fixed rate mortgage) as well as a mountain sized group of millennial purchasers have contributed to this real estate owner’s bonanza. Warning: all that goes up…you know the rest. Thankfully we have stability right now in our financial markets. However, buyers are beginning to move to the side lines for two main reasons: first they grew tired of competing with other rabid purchasers and losing out on a home purchase, and second the price points have increased to where the current sticker price is turning young families away from submitting an offer. They want to wait for prices and inventory to trend to their benefit.

Given the above current assessment of the market, anyone of you who are thinking of selling your home in the future and downsizing to a condominium or senior apartment/community, should take heed as to what is going on in real time. In my last article, I entitled it: “Know the Real Estate Market in Real Time so You Can Make Your Decision at the Right time”. Timing is everything and especially when selling and buying real estate. You want the odds to favor you as a seller and also as a buyer or investor.

If you are considering a move within the next 12 months, my advice is to get your home on the market now, or very early spring (mid-February/early March). The reason is that once the media reveals the real estate market shift to the public, many homeowners will decide it is time to sell. I believe that will happen in early 2022. Therefore, you want to be on the market with less competition so that you attract more buyers and higher offer. As we get into April-June, the inventory will begin to reach a peak and the market will get back to near-balance, meaning there will be enough inventory to meet the demands of purchasers. Right now, the market is still heavily favoring sellers due to low interest rates and low inventory, but we are currently seeing a seasonal slow-down, typical as we get closer to winter. I just received a memo from a good source stating that we will see about 7% of all current listings lower their price. That is a sign as to where the market is trending.

If you are selling and buying, then the perfect scenario would be to sell now or early spring. If selling now, then purchase in November-January (slowest time of the year where prices tend to lower). If selling next year in early spring, then purchase your condominium sooner than later, as condos will tend to rise for the foreseeable future because baby boomers (the largest group of sellers for the next 20 years) will want to purchase a condo with as little maintenance and stairs as possible. Therefore, the condo market will continue to rise as there is and will be such a high demand from baby-boomer sellers.

The same holds true if you are going to sell and move to a senior apartment or community. You don’t want to be moving when the demand is highest for that community or apartment you’ve had your eye on. When demand is high (probably next April-June), you’ll have less ability to pick out that right view and amenities in that specific community. Also, when demand is high, community prices tend to rise.

You get the picture. It is still a “seller’s market”, but that ship is sailing. Make plans accordingly. Stay tuned in to what is going on in your area, but make sure you listen to the experts, as all too often we receive information from pundits such as your neighbor or friend who got their information from someone else who is not connected to the real estate market in real time. Timing is everything. Keep your ear to the ground and you will be one of those “lucky” sellers who used the information available in real time to make the decision at the right time!

Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 35 years. He has published a book called “Moving in the Right Direction”, A Senior’s Guide to Moving and Downsizing. Bruce has just written his second book for the children of seniors, “Guiding Our Parents in the Right Direction”, Practical Advice about Seniors Moving from the Home They Love. This book is now available at www.GuidingOurParents.com. Past articles about moving and downsizing and other important information can be found at www.BrucesTeam.com. Bruce received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). Bruce is a featured speaker at several senior communities in the Milwaukee-Metro area. His discussions center on the challenge of moving from a long-time home into a senior apartment or community. He has been listed in Milwaukee Magazine’s 5-Star Agents list for the last three years in a row. As such, he’s one of only a handful of Realtors who are continually included in the top 7% in client satisfaction in the Milwaukee Metro area. He’s rated A+ by the Better Business Bureau and was a finalist for Concordia College’s Ethical Business Leadership Award. He works with his wife Jeanne at Realty Executives Integrity. You can also contact us at:

262-242-6177